KYC
Q.1 What is KYC?
KYC, short for 'Know Your Client,' is a mandatory process when investing in mutual funds through FIKAA. It includes verifying your identity, address, financial status, occupation, and other personal information to comply with SEBI regulations. Once you've completed your KYC with FIKAA, this one-time exercise ensures a seamless and hassle-free investment journey with us.
Q.2 What is the KYC process for investing in mutual funds with FIKAA?
Completing the KYC process with FIKAA is a simple 4-step procedure that requires only your PAN card, Aadhaar card, and bank details. As a first-time user, you can easily complete your KYC on the FIKAA app, which is a quick and smooth process.
Q.3 Why is KYC mandatory for investing in mutual funds through FIKAA?
KYC is mandated by SEBI to ensure investor identity verification and prevent fraudulent activities, promoting a secure investment environment.
Q.4 Can I invest in mutual funds without completing KYC with FIKAA?
No, completing KYC is a prerequisite for investing in mutual funds through FIKAA, as per SEBI regulations. Being a first-time KYC user you can complete your KYC on FIKAA app with the required documents.
Q.5 Are my KYC details safe with FIKAA?
Yes, FIKAA prioritises the security and privacy of your KYC information. Your data is securely stored and used only for compliance purposes.
Q.6 What happens if my KYC is rejected within FIKAA?
If your KYC is rejected, FIKAA will guide you through the necessary steps to rectify the issues and complete the process successfully. Reach out to our customer care for further guidance.
Q.7 Can I invest in mutual funds immediately after completing KYC with FIKAA?
Absolutely! Once your KYC is completed with FIKAA, you can start investing in mutual funds right away. For first-time KYC users, the verification process typically takes 24-72 hours to complete, after which you can begin your investment journey without any delays.
Q.8 How do I delete my account?
Click on the “Options” button on top left of FIKAA app home page. Then click on the settings, scroll down and click on “Delete My Account”, you will be redirected to your email. Please send us a request to delete your account at contact@fikaa.in. Your deletion will be processed.
Mutual Fund
Q.1 Is now a good time to start investing?
The ideal time to invest is always in the past, but starting today is a good decision too. Don't miss out on potential investment opportunities - begin your investment journey now to build long-term wealth.
Q.2 Do I need a trading account for FIKAA?
No, a trading account is not required for investing in mutual funds through FIKAA. As an intermediary between investors and mutual fund companies, FIKAA simplifies the investment process. Its user-friendly platform allows investors to select a customised mutual fund basket based on their investment amount, risk appetite, and age.
Q.3 I don't have enough money to invest?
With as little as Rs. 1000, you can begin your investment journey with us and start building wealth over time. You don't need a large sum of money to get started. By making consistent investments over time, you have the potential to earn significant returns and grow your wealth. Trust us and take the first step towards investing with just Rs. 1000.
Q.4 Do I need to wait until I'm older to start investing, or is it better to start now?
Starting your investment journey early is a game-changer, thanks to the remarkable power of compounding. With compounding, your money grows not just on your initial investment, but also on the returns it generates over time. By starting now, you give your investments more time to compound, setting yourself up for greater financial success in the long run. So, don't wait until you're older – seize the opportunity to invest and benefit from the magic of compounding. Your future self will thank you for it!
Q.5 Can FIKAA guarantee returns on my investment?
While it's not possible to guarantee returns on investments, FIKAA is committed to safeguarding your investments from market volatility and striving to generate the best possible returns over time. We differentiate ourselves from others by prioritizing your investment protection and long-term financial growth.
Q.6 What is the recommended investment duration for FIKAA?
At FIKAA, we recommend keeping your investments for a minimum of 3 to 5 years to realize the best possible returns. Building wealth takes time, and the longer you remain invested, the more potential for growth you can achieve through the powerful effect of compounding. Therefore, we encourage investors to maintain a long-term investment horizon for optimal results, allowing compounding to work its magic and amplify your wealth over time.
Q.7 What is FIKAA?
Financial Independence through Knowledge and Action is an empowering app that aims to educate and support women in managing their finances and investments. Created with the vision of breaking the cycle of financial dependence, FIKAA enables women to take charge of their money, providing them with the tools and knowledge they need to secure a stronger financial future in today's fast-paced world.
Q.8 What distinguishes FIKAA from other investment platforms?
FIKAA.AI distinguishes itself from other investment platforms through its exclusive proprietary algorithm, which recommends customized mutual fund baskets – a feature unmatched by any other app. Additionally, FIKAA's dedication to empowering women and aiding them in growing their wealth sets it apart as a unique and impactful platform.
Q.9 How does FIKAA help women learn about finance and investing?
FIKAA offers short, curated videos that provide easy-to-understand explanations of financial and investment concepts. These videos are designed specifically to appeal to women and are a great way for users to build their knowledge and confidence in managing their finances. FIKAA also provides a community section where women can connect with each other, share their experiences, and learn from one another.
Q.10 Is FIKAA free to use?
FIKAA is free to use. There are no account opening fees to begin with.
Q.11 How does FIKAA protect user data and privacy?
FIKAA takes the security and privacy of its users very seriously. The app uses industry-standard encryption and security measures to protect user data. Additionally, FIKAA does not share user data with third parties without explicit consent.
Q.12 Can men use FIKAA too?
FIKAA is designed specifically to appeal to women, but men are welcome to use the app as well.
Q.13 How do I get started with FIKAA?
Create an account using your email address or phone number. Complete the KYC process by providing your PAN card, Aadhaar card, and bank details.
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Disclaimer: Mutual fund investments are subject to market risks, read all scheme related documents carefully before investing. Investment in securities market are subject to market risks, read all the related documents carefully before investing.